Every year, scammers use elaborate schemes to trick people out of their money. One of their favorite tools is gift cards, because they can instantly drain the card of funds, making it extremely dificult to recover.
Scammers are good at what they do. They impersonate, they pressure, and they steal.
They might pretend to be the IRS, a utility company, a tech support rep., your boss, or even a family member. Then they often create panic and urgency, using phrases like “Pay now or you’ll be arrested,” “Your power will be shut off,” “Your account is frozen,” or “I need help right away.” Then they’ll insist that you must submit payment immediately, in the form of a gift card.
At Credit Union ONE your security is our top priority. To that end, we will never ask you to purchase gift cards for any reason. If someone says they’re from Credit Union ONE and tells you to buy gift cards, it’s a scam, so end the conversation. Immediately.
What are the red flags of a gift card scam?
Watch for any combination of these warning signs:
- They demand gift cards as payment (Apple, Google Play, Target, etc.)
- They tell you to read the numbers off the card or send a photo
- They create urgency using statements like, “right now,” “don’t tell anyone,” “stay on the phone”
- They threaten consequences such as fees, shutoff, legal trouble, and/or account closure
What should you do if you're asked to pay with gift cards?
If someone asks your to pay with a gift card do this every time, with no exceptions:
- Stop the conversation. Hang up, don’t reply, and don’t click links.
- Verify using a trusted method. Call the member support number on the back of your credit or debit card, or use the contact information found on the financial institution's official website. Never use a phone number, email, or contact information the scammer gave you.
- Tell someone you trust (a family member or friend). Scammers rely on isolation.
What hapens if you fall victim to a card scam?
If you already bought the gift cards or handed over numbers, act fast. The FTC recommends that consumers report a possible theft to the gift card company right away even if time has passed.
You can also report the scam to the FTC at ReportFraud.ftc.gov.
A quick rule you can bank on: If anyone tells you to pay with a gift card, it’s most likely a scam. Period.
If you ever get a suspicious call/text/email claiming to be Credit Union ONE, don’t engage. Contact us directly through official channels, and visit our Scam Resource Center for more information.